Ameriprise Financial (NYSE:AMP) Rating Increased to Strong-Buy at Raymond James

Ameriprise Financial (NYSE:AMP) was upgraded by equities research analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Finviz reports. The brokerage presently has a $518.00 target price on the financial services provider’s stock. Raymond James’ price objective suggests a potential upside of 22.86% from the company’s current price.

Several other equities research analysts also recently commented on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $515.20.

Ameriprise Financial Stock Down 7.5 %

Shares of Ameriprise Financial stock opened at $421.61 on Monday. The company has a 50-day simple moving average of $515.46 and a two-hundred day simple moving average of $524.51. Ameriprise Financial has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $40.52 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently bought and sold shares of AMP. Howard Capital Management Group LLC increased its stake in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Ameriprise Financial by 1,261.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 1,085 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Ameriprise Financial by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 11,524 shares of the financial services provider’s stock valued at $5,416,000 after buying an additional 324 shares during the period. IHT Wealth Management LLC lifted its position in Ameriprise Financial by 71.4% in the third quarter. IHT Wealth Management LLC now owns 1,047 shares of the financial services provider’s stock worth $493,000 after buying an additional 436 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in Ameriprise Financial during the third quarter worth $940,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.